GCL System Integration halts share issuance, shifts focus to core strengths

GCL System Integration Technology Co., Ltd. (GCL System Integration) announced on October 24, 2025, the termination of its non-public issuance of shares to specific subscribers. The decision, approved by its board of directors, reflects the company’s adaptation to cyclical and structural adjustments in the photovoltaic industry. GCL System Integration plans to redirect resources towards technological innovation, performance enhancement, cost reduction, and global market expansion to strengthen its core competitiveness.

The termination follows a series of approvals and adjustments to the share issuance plan since December 2022, including multiple revisions and extensions of shareholder meeting resolutions. The application for the share issuance was accepted by the Shenzhen Stock Exchange on April 24, 2023, and ultimately received registration approval from the China Securities Regulatory Commission on November 4, 2024.

GCL System Integration also confirmed new guarantee arrangements for its subsidiary, Hefei GCL System Integration New Energy Technology Co., Ltd. The company provided a maximum guarantee of RMB 20,000 for a credit agreement with a branch of Bohai Bank, and RMB 30,000 for agreements with a branch of China Construction Bank. As of the disclosure date, the total outstanding external guarantees by GCL System Integration and its controlled subsidiaries amount to RMB 352,078, representing 147.74% of the company's latest audited net assets.